Banyan Gold to explore AurMac Project, Yukon
Banyan Gold Corp. [TSXV-BYN; OTCQB-BYAGF] provided an update on the 2024 exploration program at its AurMac project, located in the Mayo mining district, Yukon Territory.
“With the completion of our recent financing, Banyan has $18 million in our treasury and we are on track for our 2024 and 2025 exploration and development programs. Expanded plans include 20,000 metres of drilling, metallurgy, scoping studies and baseline environmental programs,” stated Tara Christie, President and CEO.
Drilling at AurMac is underway with immediate targets on the Powerline Deposit, as part of the 5,000-metre drill program announced April 18, 2024, which will guide potential drill targets for the next 15,000 metres of drilling planned for this year. Additionally, the development of a three-dimensional geophysical model for AurMac is underway and an airborne geophysical survey will be completed for AurMac and at the Nitra property. Soil sampling grids will be also completed at Nitra to define future drill targets.
Banyan continues to progress metallurgy, engineering, community engagement and environmental baseline programs at AurMac.
There have been a series of wildfires in central Yukon and the Mayo area has been on evacuation alert, with recent rainfall providing some relief. Banyan is currently assisting the community with wildfire support by hosting firefighters and has also proactively done site protection at our camps. There are no fires on the AurMac property or which threaten Banyan’s infrastructure.
AurMac’s current inferred Mineral Resource Estimate for the AurMac Project of 7.0 million ounces has an effective date of February 6, 2024.
The 173 km2 AurMac Project lies 40 km from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan can earn up to a 100% interest, in both the Aurex and McQuesten Properties respectively, subject to certain royalties.
The inferred MRE for the AurMac Project was prepared on February 6, 2024, and consisted of 7,003,000 ounces of gold hosted within near surface, road accessible pit constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip, and Powerline Deposits.
In addition to the AurMac Project, the company holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt. The Hyland Project represents a sediment hosted, structurally controlled, intrusion related gold deposit, within a large land package (over 125 km2), accessible by a network of existing gravel access roads.